Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2021 (8) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 857 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - service of demand notice - time limitation - HELD THAT:- The Company Petition was filed by the Operational Creditor who was engaged by the Corporate Debtor, Gopinath Engineering Co. Pvt. Ltd. for carrying out certain jobs of the Corporate Debtor by way of work order dated 10.04.2018. subsequently, the Operational Creditor has raised an invoice for the work done by them on 18.05.2019 by sending a copy Invoice. The Corporate Debtor failed to honour payment due under the invoice. The Operational Creditor issued statutory demand notice under Section 8 of the code calling upon the Corporate Debtor to pay the outstanding liability. The Corporate Debtor having received of the said notice neither sent any reply nor cleared the amount. The Operational Creditor annexed the copy of the demand notice and also track report of the postal department evidencing the receipt of the demand notice by the corporate Debtor - this Tribunal is completely satisfied that the debt and default are established in this case and the debt is also within limitation. It is also evident from the conduct of the Corporate Debtor that he is accepting the liability. Thus, the present Company Petition satisfies all the necessary requirements for admission. Petition admitted - moratorium declared.
|